Billionaires legally avoid paying large amounts of income tax by using a few smart financial strategies. Instead of taking a traditional salary, many are paid in stock options, which aren't taxed the same way as regular income. When they need cash, they borrow against their stock as collateral instead of selling it - since loans aren't considered taxable income, they avoid paying taxes on that borrowed money, a strategy widely known as
1:05
Billionaires legally avoid paying large amounts of income tax by using a few smart financial strategies. Instead of taking a traditional salary, many are paid in stock options, which aren't taxed the same way as regular income. When they need cash, they borrow against their stock as collateral instead of selling it - since loans aren't considered taxable income, they avoid paying taxes on that borrowed money, a strategy widely known as
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